Capstone Green Energy to Provide Landfill Gas-to-Energy Project for New England Solid Waste Facility
March 11 2022 - 8:00AM
Business Wire
The Project is Expected to Reduce the City’s
Reliance on Fossil Fuels, Generate Clean Energy and Achieve
Sustainability Goals
Capstone Green Energy Corporation (NASDAQ: CGRN), a global
leader in carbon reduction and on-site resilient green
Energy-as-a-Service (EaaS) solutions, announced today that its
distributor for the Upper Midwest, New England and Eastern Canada
Vergent Power Solutions (www.vergentpower.com), has secured a
contract to provide a one-megawatt microturbine system to be
installed in a landfill gas-to-energy project for a solid waste
facility in New England. The renewable energy project will convert
the gas generated by waste at the landfill to electricity that will
be redistributed to the electrical grid and utilized by the city to
power its municipal facilities.
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A Capstone Green Energy landfill
gas-to-energy cycle diagram (Graphic: Capstone Green Energy)
The waste to energy project is expected to be commissioned in
early 2023. Currently, the landfill generates and flares
approximately 350 standard cubic feet per minute (scfm) of landfill
gas. The new project will convert all of this gas into electricity
by utilizing the highly-efficient Capstone C1000S microturbine
system. The conversion process will generate one megawatt of clean
and reliable electricity and deliver a continuous renewable source
of revenue for the city. Bringing this project to fruition is
expected to reduce greenhouse gas emissions in New England by 3,500
tons per year.
“Vergent Power dedicated many years to develop this important
project, which reflects the New England region’s path towards
decarbonization,” said Darren Jamison, President and Chief
Executive Officer of Capstone Green Energy. “The project clearly
demonstrates Capstone microturbines’ ultra-clean emission and
beneficial product features such as UL1741 SA-certified power
electronics that enable simplified interconnection with the utility
grid as well as potential future microgrids in the area. We look
forward to many more innovative, carbon-reducing projects from
Vergent Power in New England in the future,” added Mr. Jamison.
After a thorough analysis comparing various distributed
generation technologies, officials ultimately chose low-emission
Capstone Green Energy microturbines as the ideal solution for their
scalability, resiliency, and ability to reduce energy costs to
taxpayers.
“Vergent Power is proud to support this municipal customer and
its progressive efforts to have 100% renewable power in 2023.
Utilizing renewable biogas generated by wastewater treatment plants
and landfills is an excellent way for communities to transition to
renewable energy. This one-megawatt plant will be Vergent Power’s
eleventh renewable energy system in our North American operating
fleet comprising more than thirty microturbines running on biogas,”
said Justin Rathke, President, Vergent Power Solutions.
About Capstone Green Energy
Capstone Green Energy (www.CapstoneGreenEnergy.com) (NASDAQ:
CGRN) is a leading provider of customized microgrid solutions and
on-site energy technology systems focused on helping customers
around the globe meet their environmental, energy savings, and
resiliency goals. Capstone Green Energy focuses on four key
business lines. Through its Energy as a Service (EaaS) business, it
offers rental solutions utilizing its microturbine energy systems
and battery storage systems, comprehensive Factory Protection Plan
(FPP) service contracts that guarantee life-cycle costs, as well as
aftermarket parts. Energy Conversion Products are driven by the
Company's industry-leading, highly efficient, low-emission,
resilient microturbine energy systems offering scalable solutions
in addition to a broad range of customer-tailored solutions,
including hybrid energy systems and larger frame industrial
turbines. The Energy Storage Products business line designs and
installs microgrid storage systems creating customized solutions
using a combination of battery technologies and monitoring
software. Through Hydrogen Energy Solutions, Capstone Green Energy
offers customers a variety of hydrogen products, including the
Company's microturbine energy systems.
For customers with limited capital or short-term needs, Capstone
offers rental systems; for more information, contact:
rentals@CGRNenergy.com. To date, Capstone has shipped over 10,000
units to 83 countries and estimates that, in FY21, it saved
customers over $217 million in annual energy costs and
approximately 397,000 tons of carbon. Total savings over the last
three years are estimated at 1,115,100 tons of carbon and $698
million in annual energy savings.
For more information about the Company, please visit:
www.CapstoneGreenEnergy.com. Follow Capstone Green Energy on
Twitter, LinkedIn, Instagram, Facebook, and YouTube.
Cautionary Note Regarding Forward-Looking Statements
This release contains forward-looking statements as defined in
the Private Securities Litigation Reform Act of 1995, including
statements regarding expectations for green initiatives and
execution on the Company's growth strategy and other statements
regarding the Company's expectations, beliefs, plans, intentions,
and strategies. The Company has tried to identify these
forward-looking statements by using words such as "expect,"
"anticipate," "believe," "could," "should," "estimate," "intend,"
"may," "will," "plan," "goal" and similar terms and phrases, but
such words, terms and phrases are not the exclusive means of
identifying such statements. Actual results, performance and
achievements could differ materially from those expressed in, or
implied by, these forward-looking statements due to a variety of
risks, uncertainties and other factors, including, but not limited
to, the following: the ongoing effects of the COVID-19 pandemic;
the availability of credit and compliance with the agreements
governing the Company's indebtedness; the Company's ability to
develop new products and enhance existing products; product quality
issues, including the adequacy of reserves therefor and warranty
cost exposure; intense competition; financial performance of the
oil and natural gas industry and other general business, industry
and economic conditions; the Company's ability to adequately
protect its intellectual property rights; and the impact of pending
or threatened litigation. For a detailed discussion of factors that
could affect the Company's future operating results, please see the
Company's filings with the Securities and Exchange Commission,
including the disclosures under "Risk Factors" in those filings.
Except as expressly required by the federal securities laws, the
Company undertakes no obligation to update or revise any
forward-looking statements, whether as a result of new information,
changed circumstances or future events or for any other reason.
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Capstone Green Energy Investor and investment media inquiries:
818-407-3628 ir@CGRNenergy.com
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